Boussard & Gavaudan Investment Management LLP Buys New Position in Southern Copper Co. (NYSE:SCCO)

Boussard & Gavaudan Investment Management LLP purchased a new position in Southern Copper Co. (NYSE:SCCO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,301 shares of the basic materials company’s stock, valued at approximately $2,862,000.

Several other institutional investors and hedge funds have also modified their holdings of SCCO. Pathstone Holdings LLC raised its holdings in Southern Copper by 2.0% in the 3rd quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock worth $1,448,000 after purchasing an additional 247 shares during the period. Cerity Partners LLC raised its stake in shares of Southern Copper by 30.9% in the third quarter. Cerity Partners LLC now owns 13,516 shares of the basic materials company’s stock worth $1,563,000 after buying an additional 3,193 shares during the period. Larson Financial Group LLC increased its holdings in Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. D.A. Davidson & CO. raised its stake in Southern Copper by 2.1% during the 3rd quarter. D.A. Davidson & CO. now owns 22,775 shares of the basic materials company’s stock worth $2,634,000 after acquiring an additional 466 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Southern Copper during the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 0.8 %

SCCO opened at $96.90 on Friday. The company has a market capitalization of $77.15 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The firm has a 50-day simple moving average of $94.49 and a two-hundred day simple moving average of $100.65. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $127.34.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.89%. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Analysts Set New Price Targets

SCCO has been the subject of a number of analyst reports. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Thursday, March 13th. Finally, Scotiabank upped their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.42.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.